World of Warcraft The War Within is closer than you think, with a release planned for summer-fall 2024. The expansion is currently in beta testing, and all signs point to a returning raid consumable.
The War Within | Threads of Fate | World of Warcraft
According to Wowhead on April 28, oils are making a comeback in the next expansion, including Algarian Mana Oil, Oil of Beladar's Grace, and Oil of Deepening Shadows. These oils should last for two hours and increase your stats, health, or damage.
I assume Alchemists will be making oils and they will have different qualities. There are three qualities in Dragonflight: bronze, silver, and gold. Even if you get the lowest quality, you will still get all the bonuses it offers, but the effect will not be as strong.
Oils were discontinued with the release of Dragonflight, and instead you had to rely on buffs from flasks, food, and augment runes. While flasks and food are mandatory in Mythic+ dungeons and high-end raids because they last until you die, augment runes tend to be quite expensive and the buff disappears once you die.